Comcast expects to loose customers in 2008
Comcast lowered its 2008 revenue perspectus by 12%. This change comes from economic and competitive pressures. Decline in the housing market as hurt Comcast in finding new customers. Competition from Verizon communications has hurt Comcast as well, also from ongoing efforts from dish network companies. This outlook sent comcast's stocks down by %10. In the third quarter, Comcast posted a 54 percent drop in quarterly profit as it lost more basic video subscribers than expected.
"We believe the vast majority of the reductions are due to competition," said Richard Greenfield, an analyst at Pali Research. "Comcast simply did not expect the level of competitive marketing spend that has occurred this year."
priovided via Reuters
